Question Content Area Use this information for Kellman Company to answer the question that follow. The balance sheets at the end of each of the first 2 years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $614,100 $577,000 Total investments 66,200 51,200 Total property, plant, and equipment 870,700 648,800 Total current liabilities 116,900 89,400 Total long-term liabilities 295,000 243,000 Preferred 9% stock, $100 par 99,700 99,700 Common stock, $10 par 599,200 599,200 Paid-in capital in excess of parCommon stock 60,500 60,500 Retained earnings 379,700 185,200 Using the balance sheets for Kellman Company, if net income is $102,200 and interest expense is $38,900 for Year 2, and the market price of common shares is $35, what is the price-earnings ratio on common stock for Year 2? (Round intermediate calculation and final answer to two decimal places.)

a.9.98 b.1.56 c.9.81 d.22.44